Sherwin-Williams (NYSE: SHW) reported Q2 EPS of $3.36, which includes items and does not compare to the analyst estimate of $4.57. Revenue for the quarter came in at $3.74 billion versus the consensus estimate of $3.67 billion.

• Consolidated net sales increased 16.0% in the quarter to a record $3.74 billion, and increased 12.1% in the six months to a record $6.50 billion, including Valspar sales for the month of June, which increased consolidated net sales in the quarter and six months by 11.8% and 6.6%, respectively. The change in revenue classification increased net sales 2.2% in the quarter and six months
• Net sales from stores in U.S. and Canada open more than twelve calendar months increased 4.9% in the quarter and 6.0% in the six months
• Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) from continuing operations increased 11.7% in six months to $1.03 billion and increased 9.3% without the impact from the Valspar Acquisition
• Diluted net income per common share decreased 15.8% to $3.36 per share in the quarter, including a $.44 per share charge related to the divestiture of the Valspar North American Industrial Wood Coatings business divestiture, and a $.72 per share charge for acquisition-related costs, including inventory purchase accounting adjustments and increased amortization of intangibles. Valspar operations increased EPS by $.10 per share in the quarter, including a $.19 per share charge from interest expense on new debt
• Establishing 3Q17 EPS range of $3.70 to $4.10, including a $.40 to $.60 per share increase from Valspar operations, offset by approximately $1.10 per share charge for acquisition-related costs
• Updating continuing operations FY17 EPS guidance to $12.30 to $12.70 per share, including a $.75 to $.95 increase from Valspar operations, partially offset by approximately $2.50 per share charge for acquisition-related costs vs. $11.99 per share in 2016, which included an $.86 per share charge for acquisition-related costs

GUIDANCE:

Sherwin-Williams sees Q3 2017 EPS of $3.70-$4.10.

Sherwin-Williams sees FY2017 EPS of $12.30-$12.70.

For earnings history and earnings-related data on Sherwin-Williams (SHW) click here.